Pantelis Leptos shares the company's vision for Costa Nopia project in Crete

Leptos Group is set to create one of the largest mixed-use tourism developments in Crete, a project aiming to both contribute to the further upgrading of Crete's tourism product and the realisation of a vision spanning more than 25 years.

The most recent development in these efforts was the publication of a Presidential Decree in Greece regarding the approval by the Council of State of the Special Strategic Investment Spatial Development Plan (ESCHASE) for the Costa Nopia project, which will be developed in the Gulf of Kissamos, in northwestern Crete.

This is a project, which is being implemented by Cretan Sun & Sea Developments SA, a 100% subsidiary of the Leptos Group, and which has been designed as a comprehensive holiday and tourist resort of high standards that places the Greek island at the forefront of quality international tourism.

Speaking to InBusinessNews, the Co-President of the Leptos Group of Companies, Pantelis Leptos, stated that Crete is the group's main base in the Greek market, as major investments have been made on the island with tourism and residential projects, explaining that for the group, the implementation of such a large-scale investment in Crete is a natural development.

"There is great potential in Crete, which is recording the largest tourist growth in all of Greece. The similarities between the island (especially the Chania region) and Cyprus are many, including the culture and the natural landscape."

"In an area with such natural beauty and idyllic beaches, this major development will contribute to the upgrading of the tourism product," Leptos pointed out, emphasising that the project is expected to have multiple benefits for the local and Greek economy, with hundreds of jobs both during the construction period and during its operation.

A 25-year vision is being realised

It is noted that the Leptos Group has been active in the Greek market for over 50 years, offering a variety of real estate in Crete, Paros, Santorini and Athens.

Costa Nopia had already been included in the Strategic Investment regime since 2019 and the issuance of the Presidential Decree regarding the approval by the Council of State of the ESCHASE marks the maturity of the technical licensing of the project, which is now entering the implementation phase.

The investment by the Leptos Group traces its roots back more than 25 years, as the acquisition of the land, on which the major development will be implemented, took place in the period 1999-2000.

"Since then, we have been envisioning the implementation of the project, which is now entering the next stage and on track for implementation, as the next goal is to secure the specialised and required permits," Leptos emphasised, noting that the project's target clientele is similar to Cyprus and mainly concerns European markets.

The large-scale project, a comprehensive holiday and tourist resort of high standards, is being developed in the region of Chania, in the Gulf of Kissamos which is, at the same time in the southernmost point of Europe. The location is among the well-known idyllic beaches of Falasarna and Balos, close to large national parks, on slopes planted with olive trees, in a rapidly developing area, on the main road of Chania and has easy access from the airport, Leptos Group notes.

Investments in Crete

Set on an area of 1,130 acres of land with 1.4 km of beachfront and with the possibility of developing up to 207,000 buildable square meters, Costa Nopia, in the beautiful bay of Kissamos, will include hotel units, holiday homes, a large marina, green spaces, sports and cultural facilities that are fully consistent with the environmental footprint of the area.

The project is expected to generate significant public revenue, upgrading the tourist map of the region, extending the tourist season and the winter months, while at the same time, it has the potential to enhance the flow of foreign exchange to the wider region.

It is worth mentioning that the Leptos Group has been investing dynamically in Crete for over two decades, strengthening the local economy and employment with projects that respect the environment and highlight the special character of the island.

The group's innovative projects in Chania include beachfront villas, apartments and other residential and hotel developments, including Panorama Hotel, Aphrodite Beachfront I & II, Aphrodite Beachfront III, Aphrodite Beachfront V and Maleme Beach Gardens.

Also read: Leptos Group welcomes Greek Presidential Decree concerning the Costa Nopia project

(Source: InBusinessNews)